Business travel SaaS startup and expense management platform, ITILITE has raised $29 million in its Series C funding round from Tiger Global and Dharana Capital.
The round also saw participation from existing investors Matrix Partners India and Tenacity Ventures.
The startup plans to use the funds for product innovations, brand building, and growing its go-to-market teams.
“With the latest fundraise, we will accelerate our go-to-market journey and deepen our large company relationships”, said, Anish Khadiya, Co-Founder and CBO.
Bengaluru-based ITILITE was founded in 2017 by Mayank Kukreja and Anish Khadiya, It helps businesses automate their travel and expense processes, increase efficiency and reduce costs.
“People are back to offices and business travel is back in the conversation. Business travel bookings are surging and we are witnessing thousands of trips happening on our platform all over again, and this is just a new beginning”, said, Mayank Kukreja.
Its artificial intelligence-based virtual travel and expense (T&E) advisory “mastermind” provides real-time recommendations based on data insights.
“We are excited to partner with ITILITE as it reimagines business travel and expense management. Its integrated offering and easy-to-use system provides greater control and data visibility. It’s no surprise then that we are seeing strong user adoption in many geographies, including the US”, said, Griffin Schroeder, partner, Tiger Global.
Its clients include Automation Anywhere, Byjus, Swiggy, Jetworks, etc., which can optimize their T&E spend and processes.
The startup says its platform has more than 500,000 users and 300 companies in India and the US. The startup claims that it has achieved 500 percent growth in the last two years.
In April 2020, it raised $13 million in its Series B funding round from Greenoaks Capital, Vy Capital and Matrix Partners India.
About ITILITE :
ITILITE is the world’s only truly integrated travel and expense management platform empowering travel and related expenses for hundreds of enterprises and leading startups globally. They are on a mission to simplify travel & expenses for organizations across the globe so they can move people and businesses forward easily while leaving all operational concerns behind.
In today’s fast-paced world, organizations shouldn’t have to juggle with multiple tools and service providers to manage their travel & expenses. Their powerful platform takes care of all your T & E needs so businesses can focus on growth. Recognized by G2, Wharton India Economic Forum, and SuperStartups Asia as the leading T & E platform, ITILITE delivers over 30% cost savings, 40% improvement in finance productivity and 60% higher employee delight to businesses.